Updated Due Date – 2021 Personal Property Tax Return – Municipal Revenue Collection Center (CRIM)
May 6, 2022
Knowing You – 2021 Personal Property Tax Return and its 4th installment of estimated tax 2021
The Puerto Rico Municipal Revenue Collection Center (“CRIM” by its Spanish acronym) issued Administrative Order No. 2022-002 (“AD 2022-002”) to extend the filing of the personal property tax return with an original due date of May 16, 2022 to May 23, 2022. The AD 2022-002 also postponed the payment of the fourth quarter of the 2021 estimated property tax from May 16, 2022 to May 23, 2022 (To be made along with the return/extension). The benefit of the 5% discount of the tax has not been altered by AD 2022-002; therefore, applicable for those taxpayers that comply with certain requisites.
The AD 2022-002 also establishes that those taxpayers with volume of business that reached or exceeded $3 million will have until the extended due date (August 16, 2022) to present the personal property tax return along with the Audited Financial Statements, Agreed Upon Procedures or Compliance Attestation Report, as applicable (“the Report”). If the Report is not available by August 16, 2022, a letter prepared and signed by the CPA Auditor must be filed along with the return indicating that the procedures to complete the Report has not been finalized, and that such Report will be ready and filed by November 22, 2022. The filing of this letter along with the return is mandatory to consider the return duly filed. The Report needs to be submitted to the CRIM not later than November 22, 2022, otherwise, the return will not be considered timely filed.
KRESTON PR, LLC
1509 FD Roosevelt Avenue Suite 303 / Guaynabo, PR 00968-2612
PO Box 193488 / San Juan, PR 00919-3488
Tel. (787) 646-4611 / Fax (787) 764-8688 Web: www.krestonpr.com / www.kreston.com
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